|
|
Correlation analysis helps identify the relationship between two or more companies, showing how they move about each other. It helps assess patterns, manage risk, and improve decision-making by revealing which assets correlate positively or negatively.
|
|
|
|
| Symbol | Correlation |
| |
0.234890 |
| |
0.234847 |
| |
0.234804 |
| |
0.234771 |
| |
0.234743 |
| |
0.234694 |
| |
0.234642 |
| |
0.234633 |
| |
0.234585 |
| |
0.234577 |
| |
0.234556 |
| |
0.234523 |
| |
0.234478 |
| |
0.234474 |
| |
0.234470 |
| |
0.234447 |
| |
0.234401 |
| |
0.234290 |
| |
0.234289 |
| |
0.234103 |
| |
0.234036 |
| |
0.234016 |
| |
0.234016 |
| |
0.234008 |
| |
0.233906 |
|
|
|
|
|
 Stock Correlation - Explanation
Stock Correlation is the statistical measure of the relationship between two stocks. The correlation coefficient ranges between -1 and +1. A correlation of +1 implies that the two stocks will move in the same direction 100% of the time. A correlation of -1 implies the two stocks will move in the opposite direction 100% of the time. A correlation of zero implies that the relationship between the stocks is completely random. Correlations do not always remain stable and can even change on a daily basis. Correlation analysis can help you to diversify your positions. An imperfect correlation between two different stocks allows for more diversification and marginally lower risk.
|
